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1 May 2024 | 4 replies
You have the capital gain taxes on the backend.
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2 May 2024 | 11 replies
Look at property tax sales.
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30 April 2024 | 54 replies
What happens at your closing, if it’s assigned, double closed or traded for a pack of gum, is utterly irrelevant, because the law would already have been broken if that person double closing had at any point prior to the closing “offered to sell” or “ deals in real estate contracts” again what happens at the closing table is irrelevant because by that time the law would have already been violated, by the time someone is at your closing table and double closing a deal, presumably by “offering to sell” the law was already violated prior to them even coming to your closing table You might be right... if VA law actually read the way you claim.
28 April 2024 | 4 replies
So you tax basis will step up to the sale price.Good luck!
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3 May 2024 | 35 replies
Its tax time so 1099/w2 or bank statement.
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1 May 2024 | 2 replies
Property taxes ought to also be considered.
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1 May 2024 | 7 replies
So no tax returns, DTI, etc.
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29 April 2024 | 13 replies
The properties PITI, Property taxes, and insurance would be ~$1k per month.
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30 April 2024 | 21 replies
Tax free on the gains if your primary residence for 2 out of 5 years.
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1 May 2024 | 7 replies
One thing to note, is that if you are doing flips in either Solo or SDIRA the IRS is likely to see that as running a business and you could be subject to UBIT (unrelated business tax) which scales up to 37% so it can be pretty hefty depending on the numbers.